Social Security is getting a 8.7% boost in 2023 but a looming recession could spell disaster for future benefits

Social Security is getting a 8.7% boost in 2023 but a looming recession could spell disaster for future benefits

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Following a year of sustained inflation, Social Security benefits is receiving their biggest boost in four decades in 2023. The Social Security Administration announced last October that the cost-of-living adjustment (COLA) for 2023 is 8.7%. “This may be the first and possibly the last time that…

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